You just purchased a brand-new item, perhaps designer shoes or an upgraded phone. Soon after coming home (or pressing “buy” on your computer), you feel guilty and second-guess if you should have really bought it.
Sound familiar?
Buyer’s remorse strikes everyone at some point. Luckily, customers can take steps to avoid buyer’s remorse and protect themselves from poor purchase decisions.
Learn how to overcome buyer’s remorse and five ways to prepare before purchasing to ensure you are fully satisfied with the product or service.
What is buyer’s remorse?
Put simply, it’s when you feel guilt or regret after making a purchase — whether a large purchase like a car or something simpler like a new purse.
Sometimes these feelings are founded, such as when you find a flaw or are part of a scam. For example, the product description may have implied the new jacket was designer, but when it arrived, you realized it wasn’t. However, these feelings can also occur when a product fulfills its purpose. Sometimes, after buying a new product, you see a different option you think is better and regret your purchase.
Buyer’s remorse can also happen when you spend money you should have saved. Maybe after purchasing that new exercise watch, you realize you could have put that money aside to save for a new car or retirement. Likewise, when you purchase products on a payment plan, you may feel regret when trying to adjust your monthly budget to the new payments.
Be aware though — you can feel buyer’s remorse with any purchase, no matter how small. Luckily, there are tactics you can use to ensure you regret as few purchases as possible.
5 ways to avoid buyer’s remorse
The best way to address buyer’s remorse is to avoid making purchases you’ll regret later. Here are five tips to make smarter shopping decisions to avoid buyer’s remorse.
1. Budgeting
Creating a budget is one of the most effective ways to control spending. When you have a set price before shopping, you’re less likely to make impulse purchases or use a buy now and pay later system when you don’t have the funds.
When you purchase within your budget, the financial impact won’t be as profound. You’ll be less likely to regret spending money since you planned for that purchase, and it didn’t take away from your other savings or expenses.
To budget, plan your expenses and designate funds for shopping at the start of each month. As you purchase items throughout the month, keep track of them. Then, at the end of the month, compare your spending to your budget to ensure you stay within your budget.
2. The 24hr rule
Impulse purchases are the biggest culprit of buyer’s remorse. You see an item on sale, in limited quality, and purchase it right then and there. However, when you get home, you realize you don’t need it, there are better options, or you have more pressing financial needs.
To avoid this scenario, you should follow the 24-hour rule. Before purchasing items you weren’t planning for, you should wait 24 hours. This rule is especially important for online purchases when buying is easy.
During this waiting time, consider whether you need the item, can afford it, and still want it after the adrenaline rush has settled. If you do, you can return to the store or your online cart and complete the purchase.
3. Research it
Thoroughly researching products before purchasing helps you avoid remorse if the product didn’t live up to expectations or you found better options after purchasing.
Research includes:
- Looking at all features and item details
- Reading customer reviews on third-party platforms such as Sitejabber
- Comparing similar products
- Making sure the site is legitimate to avoid scams
4. Make a game plan
If you need a new item, such as a smartphone, a set of dinnerware, or a nice watch, you can prepare beforehand to avoid making a purchase you’ll regret later.
Some ways to prepare before shopping include:
- Making a list of specific items needed
- Determine how much you are realistically willing to spend
- Writing a list of necessary, non-negotiable features (colors, brand, look, etc)
Having a clearly mapped plan ahead of time allows you to be intentional about what you want, so you can purchase with confidence.
5. Focus on the positives
While researching beforehand can help you avoid regret, there’s still a chance you’ll see pictures on social media, in ads, or at a friend’s home that makes you reconsider your choice.
In these cases, the best option is to focus on the positives of your purchase and avoid dwelling too much on what you didn’t choose.
For instance, say you purchased a new winter coat, then visit a friend who has a winter coat with a different style you like better. Now you’re reconsidering your purchase and wishing you had gone with the style of your friend’s coat.
Use these tips to replace that regret with contentment:
- List all the things you liked about the item when you purchased it
- Avoid comparing your item to competitor items
- Focus on how your purchase solves all your current needs and wants
Avoid buyer’s remorse
The best method against falling victim to buyer’s remorse is simple — compare products, check customer reviews, and purchase confidently, knowing the business is legitimate.
Sitejabber supports buyers by offering a reliable platform to discover and research products, helping you minimize the chance of experiencing buyer’s remorse.
Download the Sitejabber browser extension to review and research as you shop to avoid buyer’s remorse.
